Staff Reporters
Feb 3, 2021

Alibaba revenue rises 37% amid antitrust cloud

The company took in US$33.88 billion in the quarter ended December 31, although active user numbers rose only slightly.

Alibaba revenue rises 37% amid antitrust cloud

Alibaba reported a 37% year-over-year revenue increase for its latest quarter, as its Singles Day sales helped bring in RMB221.08 billion (US$33.88 billion).

Net income rose 52% to $12.17 billion and adjusted EBITA rose 22% to $10.48 billion, the company reported Tuesday evening.

Annual active consumers on Alibaba's China retail marketplaces reached 779 million for the 12-month period ended December 31, an increase of 22 million from the 12-month period ended September 30.

Mobile MAUs (monthly active users) on the company's China retail marketplaces reached 902 million in December, an increase of 21 million over September.

Although it didn't share numbers, Alibaba said its Southeast Asia retail platform, Lazada, achieved robust growth in both buyers and sellers, and recorded triple-digit year-over-year order growth.

Youku’s average daily subscriber base increased around 30% year over year, the company said.

The positive quarterly results come about a month after China's State Administration for Market Regulation announced an investigation into Alibaba under antimonopoly law. That announcement followed the suspension of Ant Group's proposed initial public offerings on the Shanghai Stock Exchange STAR board and the Hong Kong Stock Exchange.

In its earnings release, the company reiterated earlier statements that it is cooperating with regulators and said Ant Group is in the process of developing a rectification plan, which will need to go through regulatory procedures.

"Therefore, Ant Group’s business prospects and IPO plans are subject to substantial uncertainties," the company said. "Currently, we are unable to make a complete and fair assessment of the impact that these changes and uncertainties will have on Alibaba Group."

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